McCormick & Company, Incorporated (NYSE:MKC) Sets New 1-Year Low - Here's Why

Key Points

• McCormick shares hit a new 52‑week low of $47.30 (last $48.22) on heavy volume, with a low P/E of 7.95 and a market cap of about $13.0 billion.
• Analysts hold a consensus "Hold" rating with a $64.27 target after several firms trimmed price objectives (e.g., HSBC to $55, Deutsche Bank to $59); the mix is six Buys and eight Holds.
• The company beat quarterly estimates (EPS $0.66 vs. $0.61; revenue $1.87B, +16.7% YoY), pays a $0.48 quarterly dividend (4.0% yield), but insiders sold roughly 60,000 shares last quarter.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The stock traded as low as $47.30 and last traded at $48.22, with a volume of 402175 shares traded. The stock had previously closed at $48.02.

Analyst Ratings Changes

Several analysts have recently weighed in on MKC shares. Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Weiss Ratings reissued a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. HSBC decreased their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, March 30th. Finally, BTIG Research started coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a "neutral" rating on the stock. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $64.27.

McCormick & Company, Incorporated Trading Up 0.9%

The company has a 50 day moving average of $56.64 and a 200 day moving average of $62.98. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 2.46 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.McCormick & Company, Incorporated's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated's payout ratio is currently 31.48%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the transaction, the director owned 31,596 shares of the company's stock, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $67.92, for a total value of $339,600.00. Following the completion of the transaction, the director directly owned 43,029 shares in the company, valued at approximately $2,922,529.68. This represents a 10.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,000 shares of company stock worth $4,256,550 in the last quarter. Corporate insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently bought and sold shares of the business. GoalVest Advisory LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $28,000. Deseret Mutual Benefit Administrators boosted its stake in McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $28,000. Zions Bancorporation National Association UT boosted its stake in McCormick & Company, Incorporated by 340.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company's stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Finally, SouthState Bank Corp boosted its stake in McCormick & Company, Incorporated by 1,777.8% in the third quarter. SouthState Bank Corp now owns 507 shares of the company's stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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